Benutech has launched PortfolioShield, a lien monitoring system designed to help mortgage lenders and servicers mitigate risk.
PortfolioShield uses technology to review the data points on a loan file that are known to the lender or servicer. It then combs datasets to verify or update the data, assessing each dataset to help clients identify files where the data has changed post loan, indicating the presence of higher risk factors that require examination.
Using PortfolioShield, lenders and servicers can learn that the data in their loan portfolios are brought current and are accurate, which will help reduce their risk of assuming a loss on a file because of an unknown lien against the property, default on the loan, and/or ownership that was modified or transferred.
“PortfolioShield gives our clients the unparalleled ability to continually update their loan files to ensure that all of the information in their loan files is current,” Benutech Vice President of Business Development Brian Fox said in a release. “All too often, lenders and servicers are burdened by loan files with dated information, and until now, there has been no way for them to efficiently leverage technology and data to consistently update them. We are excited to bring this product to market and see how it changes the game for the mortgage industry.”